How to calculate interest for Recurring Deposit (RD)?

Compound Interest Calculation:

If P is the principal (the money you start with, your first deposit)


r is the annual rate of interest as a decimal (5% means r = 0.05)


n is the number of years you leave it on deposit

A is how much money you've accumulated after n years, including interest.


If the interest is compounded once a year:


A = P(1 + r)n


If the interest is compounded q times a year:


A = P(1 + r/q)nq